February 25, 2008
Hurdles to E-Delivery of Proxy Materials to Plan Participants
In this podcast, Randy Gegelman of Faegre & Benson explains how employers can deliver proxy materials to plan participants, including:
– How do the SEC’s e-proxy rules differ from the DOL’s guidance on electronic delivery?
– Does that mean that “notice only” method can’t be used for 401(k) plan participants?
– What have plan sponsors been doing?
– Is this strictly an ERISA issue or are there securities issues remaining on the table?
I’m not a big Oscars person, but this satirical montage is hilarious, particularly if you’ve seen any of the movies that were nominated for “Best Picture.”
US Supreme Court: Individuals Can Sue under ERISA against 401(k) Plan Administrators
Last week, the US Supreme Court unanimous decided – in LaRue v. DeWolff, Boberg & Associates – that ERISA permits individual defined contribution plan participants to sue for fiduciary breaches that impair the value of plan assets in the individual’s plan account. This holding could have important implications for future ERISA litigation activity and present significant insurance coverage issues. Here is a copy of the opinion – and we have begun posting memos analyzing this case in our “ERISA Securities Litigation” Practice Area.
The ‘Former’ SEC Staff Speaks
We have posted the transcript from our recent webcast: “The ‘Former’ SEC Staff Speaks.”
– Broc Romanek